Global Financial Reform Needed to Prevent Future Crisis

President of the Federal Reserve Bank of New York, William Dudley, stressed the need for international financial reform and strict regulatory revisions to protect world economies from a repeat of the worst financial crises in 70 years.

Speaking at the Reserve Bank of Australia’s 50^th Anniversary Symposium, Dudley focused on the international financial community’s need to “harmonize” regulatory reform to prevent a repeat of the global recession.

Yet, the United States is not carrying the ball. Policymakers, The White House and Congress seem unable or unwilling to address the financial reform with meaningful and comprehensive legislation.